Major advocate of Bitcoin Cash accused of default: BCH price sinks 7%

Bitcoin Cash (BCH) today dropped to a low of $102.08 following reports that a major advocate of the blockchain had been accused of default.

Roger Ver, the former CEO of and a big advocate for Bitcoin Cash, was on Wednesday accused of owing $47 million to crypto exchange CoinFlex.

Coinflex CEO Mark Lamb disclosed a written agreement between the exchange and Roger Ver that obligates the Ver to guarantee any negative equity.

Lamb indicated that they have already written notice of default to Roger Ver for defaulting on the agreement.

In a subsequent tweet thread, Lamb went ahead to clarify that the debt in question pertains to Ver’s account.

But in a rejoinder, Roger Vertook to Twitter to deny Lamb’s claims of owing any debt and rather accused CoinFlex of owing him a substantial amount of money and revealed that he was seeking the return of his funds.

Roger Ver’s relations with Bitcoin Cash

Roger Ver has been the biggest promoter of Bitcoin Cash since it hard forked from Bitcoin.

The main reason Ver supports Bitcoin Cash is that he believes that Bitcoin should be a peer-to-peer transaction system instead of just being a store of value like it currently is.

The position or trade-in question is a leveraged 600-800K BCH long that Roger Ver holds on CoinFlex exchange.

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